Question

I disputed a cc collection account recently the came back as verified. The original credit did not look familiar initially. Nothing else on my credit report changed, yet I saw a 20+ point drop on all of my credit scores once it was resolved. The collection was reported initially in May, updated in July, and then recently updated after the dispute. I don't understand. Do updates negatively impact my score? If so, can collections agencies legally update every month and just ruin my life like that or was it because I disputed? I'm very confused. What can I do? How long until my score recovers???

All Responses

You have to be very careful when attempting to address collections. As you've experience you can certainly make matters worse as in some cases the collection can update and have a bigger negative impact. Carefully research on sites with info on credit and credit repair before taking any action in future.

Recovering isn't simply a matter of time. As long as a derog is on a report it's likely to have a signficant impact. Scoring improvements don't just come with time. Your report has to improve for your scores based on that reort to improve.

Your Credit Scores Should Be Free. And Now They Are.

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